Best IVR Software in 2024

What is Interactive Voice Response (IVR)?

IVR is an integrated voice response system, which helps businesses interact with their callers 24x7 through automated menus. The menu options allow callers to get faster resolution to their queries without even interacting with a live agent.

IVR software utilizes voice recognition and artificial intelligence technologies to provide instant responses to customer calls. IVR software is popularly used in banks, e-commerce, travel agencies, and weather departments to answer frequent customer queries.

IVR or integrated voice response utilizes the automated telephony technology to replace the first-level interaction with callers and route their calls to appropriate customer service agents based on their query. IVR software utilizes Dual-tone multi-frequency signaling (DTMF) processes to help with the screening of customer queries and redirecting their calls to appropriate recipients.

How Does IVR System Work?

IVR system is helping businesses tap on their potential customers with real-time integrated voice responses. IVR plays an important role in boosting your business profit by addressing questions of your potential customers. Your customers are likely to purchase more from you if all their product-related FAQs are answered through automated and integrated voice responses.

IVR software further adds value to a company’s revenue cycle, as your customers can make payments online even without needing any manual intervention. Also, they can register their concerns while using your products or services. Automated menus and replies to common queries help customers get faster resolutions.

Interactive voice response systems with their advanced IVR technology work in conjunction with the telephony board for responding to calls. The system offers pre-recorded greetings along with pre-setting menu options for getting the right responses. The software works closely with the following technical systems.

Here are the key steps to understanding how an IVR system works:

Step 1: In order for the software to work, it is essential to first connect a computing device to the user’s telephone line. Next, install the chosen IVR software and deploy a telephony card or aboard. You can now start using an IVR system by finally implementing the following:

• IP/TCP network for intranet or internet connectivity
• Databases for accessing real-time information
• Application/web server for hosting the software

Step 2: Mapping out the IVR script is important for checking how the system would respond to customer calls. The important prerequisites to IVR maps are:

• Pre-recorded greetings or welcome message(s)
• Setting either a pre-set after-hours message in case the system isn’t following the 24/7 system
• Language menu in case the customers are from diverse language backgrounds
• Listing options for services like troubleshooting, sales, purchases and repairs
• Feature for redirecting calls to live support agents

Step 3: IVR system is already set up and now its time to perform the pre-launch tests with an internal team. Here you have to go ahead with:

• Verifying the customer identity
• Call routing for redirecting calls to the right department
• Performing extensive tests to ensure the correct functioning of an IVR phone system.

What are the different types of IVR software?

• Single-Level IVR: It allows adding only one layer of IVR to your organizational call flow.
• Multi-Level IVR: This software helps with a diverse IVR design that includes 0-9 prompts and you can also add multiple layers of IVR.
• Hosted IVR: With hosted IVR, businesses can manage IVR applications on the go with an uninterrupted internet connection and deliver round-the-clock customer service.
• Agent-Assisted IVR: Here, agents use pre-recorded phrases to interact with customers and ensure that IVR menu options are simple.

Features of IVR Software (Interactive Voice Response)

• Skill-Based Routing: Incoming calls are assigned to the most suitable agents instead of any available agent. This way, IVR software ensures efficient call routing and outstanding customer service.
• Call Queuing: No one wants to wait, especially when you contact a call service agent to resolve your queries. However, it becomes unavoidable sometimes. Using the call queuing feature of IVR software, you can put your customers in the ordered queue and reduce the waiting time effectively.
• After Hours Routing: This feature of IVR software is used to schedule after-office calls or to pause calling services during non-business hours.
• Call Waiting/On-Hold: With the call waiting feature, IVR software notifies your service reps whenever another caller tries to connect with them while they are on a call.
• Preferred Agent Routing: IVR software creates a queue of agents who are authorized to receive specific interactions.
• Call Metrics Report: Call reports help managers improve their call handling performance with multiple reports about different stages of customer service.
• IVR Design: Because of the bad IVR design, businesses always suffer. However, with good IVR software, you can route your users to the right service representative and ensure that their queries are quickly resolved.
• Omni-Channel Connectivity: With email server and CRM integration, businesses can manage calls from all possible channels to provide omni-present service.
• Inbound IVR: The inbound IVR feature allows organizations to add new functionalities to inbound calls, such as ACD call routing, call-in surveys, and pre-recorded music for the waiting calls.
• Outbound IVR: From autodialer to appointment reminder and call surveys, outbound calls can be managed well with IVR software.
• Voice Mail: The voice mail feature allows users to send voice messages and process transactions related to products and services.
• Audio and TTS: The text to speech feature is used by call centre agents that help read digital text aloud and convert words into audio.
• User Interaction: IVR systems provide pre-recorded audio to help users navigate through the options and connect with the right customer service agent.
• Calendar Reports: IVR systems provide built-in reporting features and generates IVR events for each incoming call interaction.
• Real-Time Analytics: The real-time monitoring functionality of IVR software helps create a full report of interaction with callers across different platforms.

Benefits of IVR Software (Interactive Voice Response)

• Automate Customer Report: IVR system for call centres and corporates help customers with their queries without even involving any live agent.
• Prioritize Calls: Businesses often get high-volume customer calls daily, and it’s important to prioritize calls to meet their needs. Thus, a business will never lose a high-volume customer who needs urgent support.
• Manage High Call Volumes: Businesses can easily handle high call volumes even when their customer service champs are not available. IVR software lets callers wait in the queue to request a call back from the agent.
• Reduced Operational Costs: IVR calls are cost-effective in comparison to traditional call-based customer service. This way, organizations can save on operational costs and focus on resolving critical issues of customers.
• Improved Customer Relationship: Integrated with CRM software, IVR machines help businesses track customer interactions and address their issues across all social media platforms.
• Improved Lead Conversion: With IVR software, you can also automate the process of reaching out to your prospects through automated calls. This is crucial to qualify your leads based on their interest.

Difference Between IVR Systems Vs Auto Attendants

While IVR systems ensure a more interactive response with customers through voice commands, auto attendants lack the interactive tone. With auto attendants, callers just have to choose where they want the call to be routed. IVR software on the other hand lets the callers perform complex actions like making an online transaction or getting access to a database.

Benefits of Integrating IVR with existing CRM system

Reaching newer prospects: IVR systems integrated with CRM eliminate the lags associated with manual dialing and help in reaching sales prospects quickly.

Higher conversion rates: Lead conversion requires connecting with clients on calls repeatedly and IVR and CRM software integration makes it hassle-free to connect with your customers at different stages of the marketing funnel.

Improved agent productivity: IVR integration with CRM helps improve an agent’s productivity as calls get routed to the most suitable agent. Also, common queries of callers are resolved through pre-recorded messaging, helping agents focus on critical issues.

Better customer satisfaction: IVR integration with CRM ensures better resolution of customer queries based on their past interactions.

Sales reviews: Integration of IVR and CRM would also help with transparent sales reviews as calls get logged through the click-to-call and autodial features.

How do IVR Solutions work?

• The call from a customer is forwarded to the PRI or Primary Rate Interface (telecommunications connection) lines on a cloud telephony server.
• The server plays the configured IVR or integrated voice response.
• The server will call agents or extensions based on the caller’s selection in the IVR or pre-set call distribution logic on the cloud server.
• When the caller and agent connect, the conversation gets recorded and telephony API interacts with CRM if needed.
• After the call, an SMS notification is sent automatically.

What is the Key Purpose of IVR Software?

IVR system enables the resolution of common or frequent queries of callers without the intervention of live agents. IVR tools are used by small offices, multiple branches, contact centers, and call centers.

Automated menus for self-service allow callers to complete tasks without the assistance of agents. Callers navigate the branching menu structure by selecting options for their support issues and going to submenus where instructions for solving the issue are given. With automated call distribution (ACD) system, IVR helps route callers to the support agent based on their skills, performance metrics, and more so that the queries can be resolved quickly.

What Is Cloud Telephony?

Cloud telephony or cloud calling is an internet-based phone system. It is a unified voice communication system that works with a third-party host on the cloud. Cloud telephony or VoIP-based PBX software takes your business phone system to the cloud. Along with calling, cloud telephony includes other collaboration tools like instant messaging, video communication, etc.

Cloud telephony services are ideal for growing businesses to ensure seamless communication with both in-office and remote employees across boundaries.

How Does Cloud Telephony Work?

Cloud telephony works in collaboration with VoIP service providers. These service providers route any business call by converting voice-based analog signals into data packets. These data packets move with the help of an internet connection and connect the caller with the concerned person’s number.

Cloud telephony works with both, a VoIP desk phone that is connected to your current network, and the softphone application installed on your device. All business calls can be managed through an online dashboard, which can be accessed from anywhere. Along with quick calling, cloud telephony also supports call forwarding, contacts management, and more.

What are the Best Cloud Telephony Services?

Cloud Telephony includes a wide range of services like multi-level IVR systems, call recording and monitoring, real-time call analytics, CRM integration, and so on. Some of the top cloud telephony service providers are:

• Knowlarity: Knowlarity IVR solutions help with call routing, call recording, customizable menu, multi-language support, etc.
• RingCentral: Has customizable features. Offers services like calls, SMS, conferencing, and more.
• Exotel: Gives customer support via phone, email, social media platforms like Twitter, and more. Exotel cloud telephony includes call recordings, call conferences, and other features to assess agent performance.
• Cisco: Offers unique customizable IVR services, speech integration, and reporting options for real-time self-service requirements.
• Microtel: Provides voice, bulk text SMS, interactive voice response (IVR) system services for everyone.
• Mitel: Secure and flexible cloud-based phone services for businesses of all sizes.
• Genesys: Omnichannel solution offering payment/ appointment reminders, account activations, fraud alerts, and so on.
• Vonage: Offers voice, video, messaging, and data capabilities. Includes call recording, visual voicemail, auto-attendant, CRM integration, among others.
• Alliance Infotech: Has IVR based menu, quality monitoring, real-time reports and charts, and other useful options.
• MyOperator: Provides IVR, automatic call distribution, call tracking & recording, reports, and other such options for businesses.
• ITG: Offers automatic call distribution, built-in call recording, automatic email response, predictive dialing, and more.
• Ozonetel: Web-based IVR solution and multi-level IVR systems. Offers text to speech conversion, skill-based routing, call monitoring, reports, and so on.